Active Stocks
Mon May 27 2024 12:42:39
  1. NTPC share price
  2. 371.80 -0.81%
  1. Tata Steel share price
  2. 176.05 0.72%
  1. Tata Motors share price
  2. 962.65 0.20%
  1. State Bank Of India share price
  2. 837.00 1.01%
  1. ICICI Bank share price
  2. 1,144.90 1.21%
Business News/ Markets / Ipo/  Mandeep Auto Industries IPO: Check latest GMP, subscription status on day 3, other details
BackBack

Mandeep Auto Industries IPO: Check latest GMP, subscription status on day 3, other details

Mandeep Auto Industries IPO opened on May 13 and closes on May 15 with a price band of ₹67/share. Mandeep Auto Industries IPO worth ₹25.25 crore has no offer-for-sale component. Mandeep Auto Industries IPO GMP is +25.

Mandeep Auto Industries IPO opens for subscription on Monday, May 13, and will close on Wednesday, May 15. (https://www.mandeepindustries.com/)Premium
Mandeep Auto Industries IPO opens for subscription on Monday, May 13, and will close on Wednesday, May 15. (https://www.mandeepindustries.com/)

Mandeep Auto Industries IPO has opened for subscription on Monday, May 13, and will end on Wednesday, May 15. The issue's price band has been set at 67/share. Mandeep Auto Industries' IPO lot size is 2,000 shares.

The equity share allocation for the IPO is as follows: non-institutional investors (NII) can pick up to 17,88,000 equity shares, retail individual investors can buy up to 17,90,000 equity shares, and market makers can get up to 1,90,000 equity shares.

The firm makes and provides sheet metal components, auto parts, sprocket gears, and machined components for use in a range of sectors, including tractors, automobiles, railroads, military, machine tools, and the do-it-yourself market. The corporation manufactures these things through its manufacturing facility.

The company's listed peers are Kranti Industries Ltd (P/E of 38.39), Porwal Auto Components Ltd (P/E of 96.59), and Lumax Auto Technologies Ltd (P/E of 44.24).

Also Read: Mandeep Auto Industries IPO opens next week: From price band to key dates - all you need to know

Mandeep Auto Industries IPO subscription status

Mandeep Auto Industries IPO subscription status is 77.23 times, on day 3.

The retail portion was subscribed 90.57 times, and NII portion was booked 61.54 times.

The company has received bids for 27,63,14,000 shares against 35,78,000 shares on offer, according to data on chittorgarh.com.

Mandeep Auto Industries IPO subscription status was 92%, on day 1, and the issue was booked 7.94 times on day 2. 

Also Read: Silkflex Polymers IPO allotment likely to be out today. Latest GMP, steps to check status

Mandeep Auto Industries IPO details

Mandeep Auto Industries IPO, which is worth about 25.25 crore, consists of a fresh issue of 3,768,000 equity shares with a face value of 10. There is no offer-for-sale component.

The current issue's aims include acquiring machinery and equipment, expanding the current production facility in Faridabad, Haryana, and constructing a new building adjacent to the existing manufacturing unit. Paying back or ahead of schedule some of the company's borrowings; fulfilling working capital requirements; and other business reasons.

Jawa Capital Services Private Limited serves as the book running lead manager for the Mandeep Auto Industries IPO, while Cameo Corporate Services Limited acts as the issue's registrar. Aftertrade Broking is the market maker for Mandeep Auto Industries' initial public offering.

Tentatively, the Mandeep Auto Industries IPO basis of share allocation will be concluded on Thursday, May 16, and the business will commence refunds on Friday, May 17, with shares credited to allottees' demat accounts on Friday. The Mandeep Auto Industries IPO shares are expected to be launched on NSE SME on Tuesday, May 21.

Mandeep Auto Industries IPO GMP today

Mandeep Auto Industries IPO GMP or grey market premium is +20. This indicates Mandeep Auto Industries share price were trading at a premium of 20 in the grey market, according to investorgain.com.

Given the top end of the IPO price band and the existing grey market premium, the expected listing price for Mandeep Auto Industries shares was 87 per, 29.85% more than the IPO price of 67.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: TGIF Agribusiness IPO allotment to be out today; latest GMP, steps to check status

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 13 May 2024, 04:30 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started